2025-26 P06 Eco and Regen PB Budget Monitoring Report
Renfrewshire Council · 4 November 2025
Back to Economy and Regeneration Policy Board — 4 November 2025 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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PUBLIC ___________________________________________________________________ To: Economy and Regeneration Policy Board On: 4 November 2025 ___________________________________________________________________ Report by: Chief Executive and Director of Finance and Resources ___________________________________________________________________ Heading: Revenue and Capital Budget Monitoring 2025/26 as at 19 September 2025 ___________________________________________________________________ 1. Summary 1.1 At the close of reporting Period 6 on 19 September 2025, the projected revenue outturn at 31 March 2026 for those services reporting to the Economy and Regeneration Policy Board was an underspend position of £0.022m (0.7%) against the revised budget for the year. 1.2 The projected capital outturn at 31 March 2026 for projects reporting to the Economy and Regeneration Policy Board is a break even position. 1.3 This is summarised in the table below and further analysis is provided in the report and appendices. Revised Annual Budget £000 Projected Outturn £000 Budget Variance (Adv)/Fav £000 Budget Variance % Revenue Economy and Development 3,173 3,150 22 0.7% Capital Economy and Development 18,850 18,850 0 0.0% 2. Recommendations 2.1 Members are requested to: a) Note the projected Revenue outturn underspend position of £0.022m; b) Note the projected Capital outturn break-even position; and
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PUBLIC c) Note the budget adjustment detailed at section 6.3. 3. Revenue Budget Projection – underspend of £0.022m by 31 March 2026 3.1 The tables in Appendix 1 present the projected year-end position for all services reporting to this board, by both subjective analysis (what the budget is spent on) and objective analysis (which division is spending the budget). Significant variances affecting the projected position are analysed further below. 3.2 It should be noted that the projected outturn position reported here is based on the latest information available, which is subject to change during the financial year. The impact of any change on this projection will be updated at each board cycle until the close of reporting Period 10. 4. Objective Analysis – Significant Variances 4.1 There are no significant objective analysis variances to report at this stage in the financial year. 5. Subjective Analysis – Significant Variances 5.1 There are no significant subjective analysis variances to report at this stage in the financial year. 6. Revenue Budget Virements 6.1. Under the Council’s financial regulations, Directors and their nominated officers, in consultation with the Director of Finance and Resources, have certain delegated authority to transfer sums between subjective budget headings within a service division to enable budget management throughout the financial year. This is known as ‘budget virement’. 6.2. Transfers between divisions of the same service / department in excess of £100,000, and transfers between services / departments must be authorised by the respective service Director/Chief Executive and the Director of Finance and Resources for submission to the relevant policy board for approval. Future reports may therefore ask the board to approve budget adjustments that are deemed necessary for good budget management. 6.3. The budget adjustments processed since the previous report to board reflect the allocation of centrally held budgets already approved, together with the Council’s share of a Scottish Government funding allocation for
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PUBLIC Employability Child Poverty Co-ordinators. This represents new funding and is therefore for noting only. Revenue Budget Adjustments Objective Heading Subjective Heading Amount (£m) Reason Economy and Development Transfer Payments 0.078 Renfrewshire Council’s share of the Scottish Government allocation for Employability Child Poverty Co-ordinators 7. Capital Budget Projection – break even position by 31 March 2026 7.1 The approved Capital Investment Programme 2025/26 to 2029/30 for Economy and Regeneration was £14.683m. The revised capital spend for 2025/26 is £18.850m. 7.2 The in-year Capital budget is forecast to break even by 31 March 2026 after a number of budget adjustments between years have taken place, to reflect revised programming of some capital projects. Details of these adjustments, which amount to £4.167m are as follows: Project Amount (£m) Budget brought forward into 2025/26 - updated cashflows Place Based Investment Fund (0.723) Budget Increases in 2025/26 Paisley Museum (approved Council meeting 25 September 2025) 4.500 Castle Semple Visitor Centre Improvements (grant award) 0.240 Newton Road Playing Field (s75 contribution) 0.100 Retail Improvement Fund 0.050 Total 4.167
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PUBLIC Implications of the Report 1. Financial The projected budget outturn position for Finance, Resources and Customer Services’ Revenue budget is an underspend of £0.022m (0.7%) at 31 March 2026. Income and expenditure will continue to be monitored closely for the rest of the financial year and as far as possible, steps will be taken to mitigate any overspend. The projected outturn position for the Economy and Regeneration Capital budget is break-even, after the adjustments outlined at section 7. 2. HR & Organisational Development While staffing budgets form a significant proportion of the Council’s revenue budgets, there are no direct implications arising from the recommendations in this report. 3. Community/Council Planning Community Plan Our Renfrewshire is thriving The Council’s revenue and capital spend ensures that its facilities are fit for purpose and safe for the community, to maximise accessibility. Our Renfrewshire is well Our Renfrewshire is fair Our Renfrewshire is safe Council Plan Reshaping our place, our economy and our future The Council’s revenue and capital spend ensures that its facilities are fit for purpose and safe for the community, to maximise accessibility. Building strong, safe and resilient communities Tackling inequality, ensuring opportunities for all Creating a sustainable Renfrewshire for all to enjoy Ongoing revenue and capital budget monitoring is a tool to enable good financial management so that the Council has resources now and in the future for continued service delivery. Working together to improve outcomes 4. Legal There are no direct implications arising from the recommendations in this report.
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PUBLIC 5. Property/Assets The capital expenditure noted in this report will result in improvements to Culture and Heritage assets and delivery of strategic place-shaping and regeneration. 6. Information Technology There are no direct implications arising from the recommendations in this report. 7. Equality & Human Rights While new areas of spend may impact on particular groups, any such impact would be assessed prior to the spend being incurred, therefore there are no direct implications arising from the recommendations in this report. 8. Health & Safety There are no direct implications arising from the recommendations in this report. 9. Procurement While Procurement is an important consideration prior to the Council incurring any revenue or capital spend, there are no direct implications arising from the recommendations in this report. 10. Risk The potential financial risk that the Council will overspend its approved revenue budgets for the year is managed at a Council-wide level by the Chief Executive and Directors. 11. Privacy Impact There are no direct implications arising from the recommendations in this report. 12. Cosla Policy Position N/a 13. Climate Change The Council aims to reduce its carbon and other emissions to net zero by 2030, however there are no direct implications arising from the recommendations in this report.
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PUBLIC 14. Children’s Rights There are no direct implications arising from the recommendations in this report. List of Background Papers • Revenue Budget and Council Tax 2025/26, Council 27 February 2025 • The Capital Investment Programme 2025/26 to 2029/30, Council 27 February 2025 Author: Valerie Howie, Finance Business Partner; and Linsey McGregor, Capital Accountant.
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PUBLIC Appendix 1 RENFREWSHIRE COUNCIL REVENUE BUDGET MONITORING STATEMENT 2025/26 1 April 2025 to 19 September 2025 POLICY BOARD: ECONOMY AND REGENERATION Objective Summary Approved Annual Budget Budget Adjustments Revised Annual Budget at Period 3 Projected Outturn Budget Variance (Adverse) or Favourable Previous Projected Outturn Variance Movement £000 £000 £000 £000 £000 % £000 £000 Economy and Regeneration Management 100 13 113 112 1 0.9% 2 (1) Economic Development 1,160 120 1,280 1,280 0 0.0% 0 0 Regeneration 1,740 39 1,779 1,758 21 1.2% 16 5 NET EXPENDITURE 3,000 172 3,172 3,150 22 0.7% 18 4 Subjective Summary Approved Annual Budget Budget Adjustments Revised Annual Budget at Period 3 Projected Outturn Budget Variance (Adverse) or Favourable Previous Projected Outturn Variance Movement £000 £000 £000 £000 £000 % £000 £000 Employees 4,787 94 4,881 4,859 22 0.5% 18 4 Premises Related 57 0 57 57 0 0.0% 0 0 Transport Related 3 0 3 4 (1) (33.3%) 0 (1) Supplies and Services 105 (23) 82 81 1 1.2% 0 1 Third Party Payments 0 0 0 0 0 0.0% 0 0 Transfer Payments 1,509 101 1,610 1,610 0 0.0% 0 0 Support Services 26 0 26 26 0 0.0% 0 0 Depreciation and Impairment Losses 630 0 630 630 0 0.0% 0 0 GROSS EXPENDITURE 7,117 172 7,289 7,267 22 0.3% 18 4 Income (4,117) 0 (4,117) (4,117) 0 0.0% 0 0 NET EXPENDITURE 3,000 172 3,172 3,150 22 0.7% 18 4
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PUBLIC Appendix 2 Prior Years Approved Budget Revised Projected Expenditure Budget Adjustments Budget Outturn Total Approved Projected Project Title to 31/03/2025 2025-26 since previous 2025-26 2025-26 Budget Outurn Board report to 31-Mar-30 to 31-Mar-30 £000 £000 £000 £000 £000 £000 £000 ECONOMY & DEVELOPMENT Paisley Museum 50,420 9,361 4,500 13,861 13,861 0 0% 68,641 68,641 0 0% Place Based Investment Fund 2,150 1,830 (723) 1,107 1,107 0 0% 3,980 3,980 0 0% Town Centre Capital Fund 771 105 0 105 105 0 0% 876 876 0 0% Town Centre Regeneration 105 645 0 645 645 0 0% 2,550 2,550 0 0% Retail Improvement Scheme 13 57 50 107 107 0 0% 120 120 0 0% Shared Prosperity Fund 0 482 0 482 482 0 0% 482 482 0 0% West Tandlemuir 179 61 0 61 61 0 0% 240 240 0 0% Oakshaw Public Realm Works 0 30 0 30 30 0 0% 30 30 0 0% Ferguslie Belltrees 0 650 0 650 650 0 0% 650 650 0 0% Newton Road Playing Field 0 0 100 100 100 0 0% 100 100 0 0% Castle Semple Visitor Centre Improvements 0 0 240 240 240 0 0% 240 240 0 0% Paisley Art Centre Redevelopment 3,730 20 0 20 20 0 0% 3,750 3,750 0 0% Paisley Town Hall Redevelopment 25,034 231 0 231 231 0 0% 25,265 25,265 0 0% Paisley Learning & Cultural Hub 6,716 284 0 284 284 0 0% 7,000 7,000 0 0% Paisley Junctions and Charging Hub 763 209 0 209 209 0 0% 972 972 0 0% Sports Development - St James Playing Fields Redevelopment 3,111 388 0 388 388 0 0% 3,500 3,500 0 0% Sports Development - Ferguslie Pavillion Upgrade 719 273 0 273 273 0 0% 992 992 0 0% Sports Development - Hockey Pitch at On-X 557 43 0 43 43 0 0% 600 600 0 0% Townscape Heritage CARS 2 4,085 14 0 14 14 0 0% 4,099 4,099 0 0% Total Economy & Development 98,353 14,683 4,167 18,850 18,850 0 0% 124,087 124,087 0 0% TOTAL ECONOMY & DEVELOPMENT 98,353 14,683 4,167 18,850 18,850 0 0% 124,087 124,087 0 0% *Rolling programmes have a prior year year expenditure of £0 as the expenditure is not directly linked from one year to the next as a singular project. RENFREWSHIRE COUNCIL CAPITAL INVESTMENT STRATEGY - NON-HOUSING SERVICES 1st April to 19th September 2025 POLICY BOARD: ECONOMY & REGENERATION Current Year 2025-26 Full Programme - All years Budget Variance (Adverse) or Favourable Budget Variance (Adverse) or Favourable